Opinions
Michael Smedley
Compass Minerals International
CMP-N
TOP PICK
Mar 18, 2010
Stock price when the opinion was issued
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Road Salt – with the bad winter we have had. There is fear that it is built into the price of any affected stock. The biggest private supplier is Cargill and in the public sector, CMP-N. Starting in December it moved from $70 to low $80s partially because of our winter. They did some restructuring.
This is one of the cases in technicals and possibly in fundamentals as well, where you would want to Buy it somewhere higher or somewhere lower. He would rather buy this above its recent high of $87-$80 or somewhere around $80. Currently it is “filling the gap” so from a risk perspective, you either buy at the lower end for a shorter trade or $88+ if you are a cautious or a long-term investor.